Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF) managing director Richard Belcher talked with Proactive's Stephen Gunnion about the advancement of the Konkola West copper exploration project, where strategic partner KoBold Metals has committed to Stage 2 of the joint venture.
The project, located in a world-class copper terrain adjacent to operating mines, involves challenging deep drilling operations of up to two kilometres. Belcher said, “These are deep, two-kilometre deep drill holes; the cost of this drilling is within the millions of dollars to drill these holes.”
He explained that KoBold’s continued financial backing, including a commitment to spend up to US$6 million in Stage 2, is a strong endorsement of the licence’s potential. Tertiary Minerals retains upside in the project while significantly reducing its financial exposure, with Belcher noting that the JV model “reduces our risk... we don’t need to contribute in terms of the cost of this drilling.”
The technical results so far have enhanced understanding of the basin’s geology and informed future targeting. Belcher highlighted the strategic value of having KoBold take on both the risk and cost associated with such deep exploration, adding that this collaboration allows Tertiary to move forward without diluting resources.
In addition to progress at Konkola West, Belcher revealed plans to carry out additional drilling at the Mushima North project before the rainy season, reinforcing the company's commitment to advancing its wider Zambian exploration portfolio.
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